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SQ

Square

$69.43

-2.38 (-3.31%)

12:02
11/14/18
11/14
12:02
11/14/18
12:02

Square Payroll introduces benefits offerings for small businesses

Square announced that it has launched employee benefit offerings within Square Payroll, providing small businesses who use Square Payroll "access to quality, affordable benefits like health insurance and retirement savings." Benefits available through Square Payroll include health insurance, retirement savings, pre-tax spending, and workers' compensation. "With today's launch, Square Payroll is giving small businesses access to 'big company' benefits. We're empowering businesses to provide their employees a comprehensive set of benefits and the financial security that comes with having them," said Caroline Hollis, Head of Square Payroll.

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SQ Square
$69.43

-2.38 (-3.31%)

11/08/18
SUSQ
11/08/18
DOWNGRADE
Target $77
SUSQ
Neutral
Square downgraded to Neutral on valuation, CFO vacancy at Susquehanna
As reported previously, Susquehanna analyst James Friedman downgraded Square (SQ) to Neutral from Positive. The analyst cited valuation and the lack of a CFO at the company. While he sees Square taking about ten billion of cumulative revenue share from incumbent merchant acquirers, ISOs and ISVs, he would await a better re-entry point pending management visibility, Friedman tells investors. In the meantime, Friedman suggests investors look at First Data (FDC) instead, stating that Clover is generally performing as well as Square's payments products while the stock's discount to Square "seems compelling." Friedman maintained his $77 price target on Square shares.
11/08/18
CHLM
11/08/18
NO CHANGE
Target $55
CHLM
Sell
Square price target raised to $55 from $37 at Craig-Hallum
Craig-Hallum analyst Bradley Berning raised his price target for Square to $55 from $37 following quarterly results. Nonetheless, the analyst reiterates a Sell rating on the shares and argues that investors should use 2018 strength as an exit point ahead of second derivative impact on organic revenue growth decelerating in Q4 of 2018/1H19 due to a combination of tougher comps and increasing competition.
11/08/18
RHCO
11/08/18
NO CHANGE
Target $84
RHCO
Hold
Square price target raised to $84 from $74 at SunTrust
SunTrust analyst Andrew Jeffrey raised his price target on Square to $84 after its Q3 earnings beat while also raising his FY18 EPS view by 9c to 51c. The analyst notes that the company's "ecosystem value proposition is increasingly resonating with a broad swath of small-to-medium business and consumers" as demonstrated by another quarter of accelerating revenue growth. Jeffrey keeps his Hold rating on Square however, stating that its valuation already discounts much of the forecasted growth.
11/08/18
11/08/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Square (SQ) downgraded to Neutral from Positive at Susquehanna analyst James Friedman citing valuation and the lack of a CFO at the company. 2. Landstar System (LSTR) downgraded to Neutral from Buy at Goldman Sachs and to Sector Weight from Overweight at KeyBanc. 3. Dean Foods (DF) downgraded to Hold from Buy at Jefferies with analyst Akshay Jagdale saying he believes the company's cost savings opportunity is significant enough to more than offset secular headwinds. 4. Ctrip (CTRP) downgraded to Neutral from Outperform at Credit Suisse, to Neutral from Buy at Citi, to Underperform from Outperform at CLSA, and to Hold from Buy at China Renaissance. 5. CDK Global (CDK) downgraded to Market Perform from Outperform at Wells Fargo with analyst Timothy Willi saying he believes that CDK faces a variety of headwinds during FY19 that will likely limit upside in the shares despite the discounted valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

RTRX

Retrophin

$20.07

-0.13 (-0.64%)

06:18
04/22/19
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Retrophin initiated  »

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MU

Micron

$43.42

0.26 (0.60%)

06:18
04/22/19
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Conference/Events
Micron management to meet with JPMorgan »

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DTIL

Precision BioSciences

$12.15

-0.84 (-6.47%)

06:18
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WTRE

Watford Holdings

$28.24

0.5 (1.80%)

06:17
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RCII

Rent-A-Center

$21.35

0.07 (0.33%)

06:15
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ENGIY

Engie SA

$0.00

(0.00%)

, EME

Emcor

$79.55

2.64 (3.43%)

06:15
04/22/19
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06:15
Periodicals
France's Engie mulls takeover of Emcor, Bloomberg reports »

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ENGIY

Engie SA

$0.00

(0.00%)

EME

Emcor

$79.55

2.64 (3.43%)

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CAL

Caleres

$27.55

0.425 (1.57%)

06:14
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04/22
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06:14
Upgrade
Caleres rating change  »

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DOV

Dover

$97.93

1.12 (1.16%)

06:14
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04/22
06:14
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06:14
Downgrade
Dover rating change  »

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TEVA

Teva

$14.36

0.14 (0.98%)

06:13
04/22/19
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06:13
Hot Stocks
Teva receives FDA approval to market generic nasal spray for opioid overdoses »

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RCI

Rogers Communications

$51.39

-1.76 (-3.31%)

06:13
04/22/19
04/22
06:13
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06:13
Downgrade
Rogers Communications rating change  »

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TEVA

Teva

$14.36

0.14 (0.98%)

06:10
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04/22
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06:10
Hot Stocks
Teva receives FDA approval to market generic nasal spray for opioid overdoses »

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CAL

Caleres

$27.55

0.425 (1.57%)

06:09
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04/22
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06:09
Upgrade
Caleres rating change  »

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TBK

Triumph Bancorp

$29.38

-1.37 (-4.46%)

06:08
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06:08
Downgrade
Triumph Bancorp rating change  »

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OKE

Oneok

06:08
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06:08
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Oneok rating change  »

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MANH

Manhattan Associates

$57.31

0.18 (0.32%)

06:07
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06:07
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Manhattan Associates rating change  »

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NSANY

Nissan

$0.00

(0.00%)

06:07
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Nissan says Nikkei output cut report 'completely incorrect' »

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ALV

Autoliv

$86.75

1.26 (1.47%)

06:06
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Autoliv rating change  »

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BXG

Bluegreen Vacations

$14.91

-0.43 (-2.80%)

06:06
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Hot Stocks
Bass Pro to cancel access from Bluegreen Vacations »

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TSLA

Tesla

$273.25

2.13 (0.79%)

06:06
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Periodicals
Tesla probes incident of vehicle fire in Shanghai, CNBC reports »

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BBBY

Bed Bath & Beyond

$17.43

0.14 (0.81%)

06:05
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06:05
Hot Stocks
Bed Bath & Beyond forms Business Transformation and Strategy Review Committee »

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KKR

KKR

$23.75

0.285 (1.21%)

06:04
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Periodicals
KKR, EQT potential biddres for Thomas Cook, Sky News reports »

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IPGP

IPG Photonics

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SC

Santander Consumer

$22.54

-0.16 (-0.70%)

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WASH

Washington Trust

$50.05

-0.06 (-0.12%)

06:04
04/22/19
04/22
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Earnings
Washington Trust reports Q1 EPS $1.00, consensus 95c »

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NI

NiSource

$27.56

-0.03 (-0.11%)

06:04
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